Sunway growth prospects anchored by three pillars

TheStar Fri, May 24, 2024 12:00am - 2 weeks View Original


TA Research said Sunway is targeting new property sales of RM2.6bil this year.

PETALING JAYA: Sunway Bhd growth prospects remain bright, anchored by healthcare, property development and construction.

“With the group’s widening exposure in the Malaysian economy, investing in the stock is akin to owning a piece of the domestic economy which is on the cusp of entering a new phase of growth,” Hong Leong Investment Bank Research (HLIB Research) said.

The research house highlighted that Sunway posted a 20.5% year-on-year increase in core profit after taxation and minority interest of RM170.3mil for the first quarter ended Mar 31, 2024, making up 25.1% of its full-year forecast and 21.6% of consensus forecasts.

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